- Gold's daily line chart is reporting a flag breakout.
- The pair could revisit resistances at $1,562 and $1,573.
Gold is again looking north and could challenge resistance at $1,562.
The yellow metal 0.64% and closed at $1,556 on Wednesday, confirming a bull flag breakout on the daily line chart.
The pattern indicates the pullback from recent highs has ended and the rally from lows below $1,450 observed in December has resumed.
The flag breakout has opened the doors for a convincing move above the recent closing high of $1,573. However, on the way higher, the yellow metal will encounter resistance at $1,562 (Jan. 10 close).
At press time, the yellow metal is trading at $1,556 per Oz.
|Today last price||1556.76|
|Today Daily Change||0.48|
|Today Daily Change %||0.03|
|Today daily open||1556.28|
|Previous Daily High||1558.1|
|Previous Daily Low||1546.1|
|Previous Weekly High||1611.3|
|Previous Weekly Low||1540.3|
|Previous Monthly High||1525.1|
|Previous Monthly Low||1454.05|
|Daily Fibonacci 38.2%||1553.52|
|Daily Fibonacci 61.8%||1550.69|
|Daily Pivot Point S1||1548.88|
|Daily Pivot Point S2||1541.49|
|Daily Pivot Point S3||1536.88|
|Daily Pivot Point R1||1560.89|
|Daily Pivot Point R2||1565.5|
|Daily Pivot Point R3||1572.89|
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